Myths, Fallacies and Facts

The distinct meaning of myth and fallacy are frequently misunderstood.

A myth is a widely held false belief or idea, often based on tradition or culture, but with no factual basis.

It tends to be a story passed down through generations to teach moral lessons.

Myths can be based on real events and people, but over the course of time, it can be exaggerated to explain the unknown or to provide succor in times of hardship and uncertainty.

A fallacy is a mistaken belief based on faulty reasoning or flawed logic that may seem convincingly plausible but is ultimately untrue.

Fallacies can be used intentionally or unintentionally for manipulative or convincing purposes.

Concern arises when repeated fallacies are given credence and then there is a risk of erroneous acceptance by society.

Therefore, myths and fallacies should be carefully chosen and utilised in a proper manner.

It is always best to stick to facts.

Fallacy is correctly used to describe the gender dominance in Namibia’s business management and corporate leadership landscape, but incorrectly to reflect entrepreneurship gender dominance.

It is factual, as empirical evidence shows, that men dominate board directorships and hold senior, middle and junior managerial positions, and even supervisory positions, at corporate, large, medium and in smaller firms in Namibia.

Seemingly, there is a changing trend in banking, insurance, allied financial services, and in the educational services sector.

Dominance by males holding key decision-making and managerial posts in business seems to apply to Namibia’s public sector as well, including at state-owned enterprises.

It is likely that the same applies in most countries in Africa, if not the world.

As for starting, owning and running a business, working at the frontline of entrepreneurship, providing wealth and job creation support, one can attest that the picture is vastly different.

Not having taken a tally of our client gender split for some time, it is unlikely to reflect any differing picture than it did years ago. Undoubtedly, a count will once again show that females outnumber males by far.

Although most of our clients are entrepreneurs operating in the formal sector across Namibia’s 14 administrative regions, we have expanded our reach to include service provision to enterprises in the informal sector.

There, too, we observe a similar trend – more female entrepreneurs operating informally than men.

Motivated by limited job opportunities and economic necessities, it should not come as a surprise that many women venture into the business arena and that they do so not only in Windhoek and larger towns, but in villages, settlements and rural areas where jobs are scarce.

Another reason is that business start-ups and growth programmes from the government and donor community, for a long time now, have tended to favour women and continue doing so.

However, in all fairness, the resilience of women complemented by other characteristics essential for business viability and sustainability are seemingly more dominant among females, such as money discipline, adhering to compliance regulations, focus and commitment.

So, it is a fallacy to believe that females entrepreneurs are few, but it is a fact that they dominate the entrepreneurial landscape – just look at your own community.

• Danny Meyer is reachable at danny@smecompete.com